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ICOM Part 2 English Medium Principles of Banking Chapter 11 MCQ's Test
Start Chapter 11 TestICOM Part 2 Principles of Banking Chapter Wise Online MCQ's Test
MCQ's Test For Chapter 0 "Principles of Banking Icom Part 2 English Medium Chapter 11 Online Test"
Try The MCQ's Test For Chapter 0 "Principles of Banking Icom Part 2 English Medium Chapter 11 Online Test"
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Total Questions15
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Time Allowed20
Principles of Banking Icom Part 2 English Medium Chapter 11 Online Test
00:00
Question # 1
Which one can be crossed :
Question # 2
Which of the following is a non-commercial letter of credit
Question # 3
What does the bank receive on issuing a letter of credit:
Question # 4
IOU is a document
Question # 5
The letter of credit which can be endorsed to another person is called:
Question # 6
What is recieved by the post office on money order:
Question # 7
If there is no guarantee to honour a letter of credit then it is called:
Question # 8
Which letter of credit is automatically renewed by fulfilling certain conditions
Question # 9
The first stage or step between importer and exporter for the purpose of sale and purchase is:
Question # 10
Which letter of credit is accompanied by some documents
Question # 11
Where are the stock certificates sold and bought
Question # 12
If the exporter is not the receiver (beneficiary) of money then a letter of credit is called:
Question # 13
I Owe You is a written instrument drawn by
Question # 14
What is the nature of credit instrument IOU
Question # 15
What does IOU mean
ICOM Part 2 English Medium Principles of Banking Chapter 11 MCQ's Test
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ICom Part II Principles of Banking (E.M) Chapter 0 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Which letter of credit is accompanied by some documents |
A. Confirmed
B. Documentary
C. Non-documentary
D. All the above
|
| 2 | Which of the following is useful in facilitating trade relation between the businessmen of different countries |
A. Bank draft
B. Money order
C. Letter of credit
D. Stock certificate
|
| 3 | Commercial letter of credit is issued for the facilty of: |
A. Ambassadors
B. Common people
C. Businessmen
D. Alll of the above
|
| 4 | The letter of credit which can be endorsed to another person is called: |
A. Special L.C
B. Transferable L.C
C. Resolving L.C
D. None of the above
|
| 5 | The first stage or step between importer and exporter for the purpose of sale and purchase is: |
A. Oath or undertaking
B. Agreement
C. Contract with bank
D. Issuing of L.C
|
| 6 | Which of the following is used to finance the people who want to travel abroad |
A. Traveller's letter of credit
B. Traveller's cheque
C. Circular note
D. All the above
|
| 7 | Which of the following is a non-commercial letter of credit |
A. Irrevocable letter of credit
B. Red-clause letter of credit
C. Special letter of credit
D. Traveller's letter of credit
|
| 8 | What does IOU mean |
A. I am a debtor to you
B. I am a creditor to you
C. Both a and b
D. None of these
|
| 9 | IOU is a document |
A. Negotiable
B. Non-negotiable
C. Conditional negotiable
D. Unconditional negotiable
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| 10 | Which type of letter of credit authorized the exporter to obtain an advance before the shipment of goods |
A. Documentary letter of credit
B. Green-clause letter of credit
C. Confirmed letter of credit
D. Red-clause letter of credit
|
Test Questions
